Apr-Jan fiscal gap 129% of revised FY20 aim Bloodbath on Dalal St Street erodes nearly Rs 5 lakh cr investor wealth

Apr-Jan fiscal gap 129% of revised FY20 aim Bloodbath on Dalal St Street erodes nearly Rs 5 lakh cr investor wealth

The fiscal deficit was at 121.5% of the full-year target in the corresponding period for 2018-19 (Apr-Mar).

AgenciesUpdated: Saturday, February 29, 2020, 08:41 AM IST
article-image
Bombay Stock Exchange | File

The central government's fiscal deficit rose to 9.855 trillion rupees in Apr-Jan from 9.317 trillion rupees in Apr-Dec, accounting for 128.5% of the revised full-year target of Rs 7.668 trillion, data released by the Controller General of Accounts showed.

The fiscal deficit was at 121.5% of the full-year target in the corresponding period for 2018-19 (Apr-Mar).

In the Union Budget for 2020-21, the government invoked the escape clause provided in the Fiscal Responsibility and Budget Management Act, raising its fiscal deficit target for the current financial year by 50 basis points to 3.8% of GDP. As such, the fiscal deficit aim in absolute terms moved up by Rs 630.86 billion.

However, going by the January numbers, the Centre risks missing even the revised fiscal deficit target.

In January, the Centre's fiscal deficit was Rs 537 billion, down 22.5% from Rs 694 billion a year ago. Total receipts rose 4.8% to Rs 1.049 trillion during the month, while expenditure fell 6.4% to Rs 1.587 trillion.

For Apr-Jan, the government's total expenditure was up 13.3% at Rs 22.683 trillion, while total receipts were higher by just 4.2% at Rs 12.829 trillion.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...